An affiliate of CenterGate Capital, a U.S. private equity firm managing more than US$750 million, has invested in Canadian Dental Labs, the companies recently announced.
The value and terms of the investment were not disclosed.
Toronto-based Canadian Dental Labs, or CDL, describes itself as a leading Canadian dental laboratory platform producing dental prosthetics and orthodontic appliances.
The company is the parent of Shaw Lab Group in Ontario, Protec Dental in British Columbia, Hallmark Dental in Atlantic Canada and Universal Dental in Alberta. It operates 11 laboratories and serves more than 5,000 independent dental professionals and dental service organizations across Canada.
CenterGate, based in Austin, Texas, invests in middle-market companies seeking their next stage of growth.
“From our earliest conversations, it was clear that CenterGate not only brings significant experience but also shares our long-term vision for the business and our commitment to delivering exceptional service to our customers,” said CDL CEO Ali Rezaei, who will continue to lead the company.
“This partnership will allow us to continue investing in our people, technology and laboratory network and further enhancing the quality and craftsmanship that our customers have come to expect.”
Steele Windle, managing director at CenterGate Capital, said CDL has built an “exceptional reputation for quality, customer service and technical excellence.”
“We are excited to partner with Ali and the entire CDL team as they continue building on this strong foundation,” Windle said.
CenterGate was represented by Akerman LLP and Blake, Cassels & Graydon LLP in the transaction. BMO Middle Market M&A and ATB Cormark Capital Markets served as financial advisers to CDL.